Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1887-05-19
stantially "a heretofore related In the D'S'
patch. In addition the committee say:

such result. seemed Wiling W lay eotuo 81
prepossosslons aud preiudices, 70 consider care
fully all propositions submitted, and TO deter
mine every question upon It's merits.
But anxious as the committee were 70 settle
| forever this vexatious matter, tney Ners nov
willing 10 DO so at tho sacrince Oh our eluca'
nary Institutions and the neglect OF our dis
abled soldiers. which the acceptance OF the pro-
| positions submitted 70 US wonld virtually re-
| quire honce. when upon our decuning 10 a'.
| cept the terms proposed by tho commission Of
| the Council Of Foreign Bondholders. they in
| formed us that we had their ulumatum-theF
| last wOrd-And that they were unwilling 70 con-
| tinue negotiations except upon that basis, this
| declaration on their part necessarily termi-
| mated negotiations.
The COMMITTEES believe they demonstrated TO
| the commission the insUfiiciency OF our avail
| able aseets TO pay annually the amount OF IN
terest which they demanded. and that their
| demands could only be complied with Dy in-
| creasing the burdens OF taxation upon tho
already too heavily burdened taxpayers.
In reply to this the commission rejected our
| estimates OF receipts and disbursements,
| claiming that our receipts were greater than
We had shown them to be (thus ciscrediting
! our statements. which we're made from thor
ouehly reliable official documents). and that
our appropriations 10 educational purposes. 20
our asylums for the insane, and tor our dis
| abled soldiers were excessive; that these ap-
| Iropnations ought TO be reduced and the
| amounts saved by the reduction applied 70 The
payment q interest due the bondholders. the
! great body Of whom are citizens OF England.
The committee could not accept the argu-
| rnents Of the commission "a sound or their con-
| clusions as Just
In q republic, whero tho people are soyo-
| reign, wherc power originates with aad rests IN
| the people. whore all men are equal before tho
| law, and where the poorest may vie with the
| richest for tho highest places OF honor ana
| profit. education IL one OF its main bulwarks
| Hence seif-preseryation and duty, interest," Anl
| philcnthrophy demand that educational facili-
| iics shall be placed In the reach hof all.
| Nothing but the hardness Of the times. tho
/ royorty Of taxpayer, and tho scarcity OF
| money jusiiles US In adhcring, "a we are
] doing. 20 the minimum sum Dedicated 20 publ,
! free schools by The Constitution and W. shalt
| hail with pleasure the dawn Of such prosperity
- will justify largely-incrc ased appropriations
| itr educational purposes.
| The commission also suggested re 'ucaoo
| IN apprC pTiations to insane a'ylums, overlook
! irg or Ignoring the fact that, outside OF thH
| provision made for thie unfortunate class 10
| tho several Institutions Of the state. hundreds
| q these poor demorted creatures are laneuis2-
! ing in the uncomfortable iaile Il the variou'
counties. deprived Of proper medical skill aad
| trained nurses.
! II was shown to :he commission thai the per-
| cdyifa expenditure In the asglCms compacol
| meet faVCratly with thet OF other states
Rather tkGn decrease the appropriations,
! your committee wished the condition 81 thr
State would permit larger donations to cacng
! Another subject Of eIpcnec complained OF
was what they call tie c1travagant provision
for mGlmcd and disabled soldiers OF the state.
RroPsSISG NEGOTIATIONS.
Upon being notified that the Joint committee
| had resolved 10 report 70 the General Assembly
| the failure and Termination OF negotiations,
! tho commission requested the joint committee
| TO reopen negotiations, and submitted another
| proposition. which they tcrmod their mini
mum" This proposition was; IN the opinion
| of the Joint committee, but little II any better
! than the one which they had rejected, and was
J promptly declnsd With the declinatlOh OF
this last proposition Of the commission tho
! joint commi,Ise submitted 10 them counter
| proposition.
! sufpeusl m q proceedings until they could ro-
| ceiyc instructions from the Council OF Foreign
! Bondholdors. THIS request was granted. At
| mo expiration Of four days they ini0rme tho
! Joint committee that thoy were instructed 20
| aiLcrc 10 heir last proposition.
! Neither sdc hGyiug any other proposition 70
| submit. lie Joint committee Informed th" COM
| mission thni they regarded all negotiations as
lnally ended, and would mako their final re-
| port 10 the General Assembly as soon as J..
| could be completed.
| The committee hereto append, IN consocu-
| tive order. n statement showing thc compaiu-
| tive condition Of Virginia financially In 1853
| 1870 and 1856 tho estimate made by the COM
| mission upon which their first proposition was
! based. and containing substantially their pro-
| position; the reply of the committee to that
| proposition: the second proposition male by
! the commission, and the reply Cf The commit
! tee thereto; lie third proposition Of the com
| mission, which they termed their "ultima-
uIm.1 thcir L" last words.' and the response Of
| the committee thereto; the last pro position
| submitted by the commission, which they
| termed their minimum" the reply thereto
| ty the committee. and the hnal communlca-
| tiCB from the commission.
! (TLe UicDdfci Las published the ~ ~
| important 81 these papers in full ana .1e
Others In substance
FINAL COYXUNfCiTI0N.
RICH8OSD. May. 1'S1.
Dear Sir: We have 20 acknowledge the re-
/ ceipt Of your letter communicating The re-Ou-
! ton Of the Joint committee definitely declining
! the proposEl which we made on the 1lth instant
On behalf Of The English bon holders, and we
! are in consequence instructor 10 iufOrm you
! That the holders Cf the cOusOl and lO-4O bonds
/ formally Withdraw the olcr made 10y the resO-
/ luton 4 the public mecurg held In LOnd )n on
! The 24ih of September last 10 entertain q com
! promise based upon the present taxation and
| available revenue Of The state after providing
| for the constitutional appropriations for gov
J CrnmSnf. schools. and other public cXpendi-
} ture, aud claim their fun rights as established
! ty law.
We arc. dear sir, yours faithfully.
EDWARD THOENrON,
| :. y. BRAITHwAtTE.
| Hr. Chorlcs ,. Stunt.
| Eespectfuily submitted.
CHARLES =. STUAET, Chairman.
JOIN r. hAssEI,
j. y. STCBBs.
". {. MICKHAN,
| NULIAI i. kHEA,
i. II. II. FlGGAT.
JAgRS BARBOUR,
II. X. POLLARD,
II. II. DOWNING.
JAMEs II. DARST.
RondhOIderS'A Address q Our People.
The following has been published IA
! "dOdger" form and y being circulated IN
The city:
VIRGINIA STATE DEBT.
| Fiaal Proposql n the Eogiish Bondhoiders oyer
bg 10 SCRRENDER TO 7HE STATE up-
tedrs' Of $4,000, 900 or PRiNClPAL l. dnd
100000 PER ANNUM or ISTERE ES1ADH
| the Consol and 7sa-F Forty Debt atone.
10 tie Pcoplc II Virginia:
The following Is the lnal proposal ofers1 by
US on behalf OF the b)ndhOcer5 and rejected
| ~ the Joint committee OF the Virginia Lesisl1-
tuie:
Then follows the proposition, which we hayo
| already lub!shod.l
payable
Annual on re-
interest demptiOn.
| offered 10 be surrendered
| 10 INC Nldle % 3Olst5l FosloisfsV
| II I.5O0OoO OF overdue coupons were dis
| charged AT fifty cents on the dollar, by de-
voting 900 Of the States assets to this pur
pose the annual interest would bo reduced TO
| lGi24sl and the principal 10 be redeemed 70
| si6Si7,Iyi. Tile amount SdUed % the St1t> FOu,d
| then BE-: Interest, 8t95.535; Principal, 90
2OO.I3O. EDWARD THORNTON,
:. y. BRAITHWAlTE.
RIcHMoYD. May Il, 1887.
How EIe VIII Report.
With reference to what report he will
make 10 the Council Of Foreign Bondhold-
ers when he returns to England, sir Ed
word Thornton yesterday said What ad.
vice | may offer 10 the council AN not al
liberty TO state and have not stated"
THIS seems 10 Sc, at rest number Of Idle
rumor, that have been afOat here for Ii day
or tHo.
Y. VI. &. a. BUILDING.
HedicatsOn Exercises TO-NiGht-Ad-
dresses by Dr. Hoge, Mr.. DOdge,
and Mr.. EilysOn.
The Young Mer's Christian Association
building, at the northwest corner OF Msin
md sixth streets, will be dedicated Tonight.
amt the following is the programme Of ex-
ercises:
Voluntary tquartette), Misses Julia and
Grace Henniug, Mr. u. Z. Leftwich, and Mr.
W. 2. HennIng; Reading OF Scriptures, Rev. :.